Log In/Sign Up
Your email has been sent.
Fireside Flats & Westmoreland Townhomes 2 Multifamily Properties Offered at $4,135,871 CAD in Portland, TN
Investment Highlights
- 26 Unit Portfolio Located in Portland, TN (Nashville MSA) featuring a mix of 2 bedroom and studio layouts
- 3 out of 8 units at the Westmoreland Townhomes have been renovated
- 16 out of 18 units at Fireside Flats have been renovated
- Individually metered for electricity
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/198947/fireside-flats-westmoreland-townhomes
Marcus & Millichap has been exclusively retained to market the Portland Multifamily Portfolio in Portland, TN. This offering provides investors the rare opportunity to acquire a two-property value-add portfolio strategically positioned within the Nashville MSA.
This portfolio includes 26 total units across two well-located Portland, TN communities, both benefiting from the city’s strong industrial base and growing employment. 102 Fireside offers 18 units with upgraded interiors, in-unit laundry connections, on-site facilities, individually metered utilities, and 16 renovated units. 123 Old Westmoreland adds 8 two-bed townhomes with in-unit laundry connections, central HVAC, utility bill-backs, and 3 renovated units. Portland’s expanding economy, supported by major investments such as Shoals Technologies Group’s $80M expansion adding ~550 jobs and Troax Group’s new facility adding ~120 jobs, continues to strengthen renter demand, further enhanced by proximity to Nashville (40 miles) and Clarksville (~61 miles).
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Portland Multifamily Portfolio.
Marcus & Millichap has been exclusively retained to market the Portland Multifamily Portfolio in Portland, TN. This offering provides investors the rare opportunity to acquire a two-property value-add portfolio strategically positioned within the Nashville MSA.
This portfolio includes 26 total units across two well-located Portland, TN communities, both benefiting from the city’s strong industrial base and growing employment. 102 Fireside offers 18 units with upgraded interiors, in-unit laundry connections, on-site facilities, individually metered utilities, and 16 renovated units. 123 Old Westmoreland adds 8 two-bed townhomes with in-unit laundry connections, central HVAC, utility bill-backs, and 3 renovated units. Portland’s expanding economy, supported by major investments such as Shoals Technologies Group’s $80M expansion adding ~550 jobs and Troax Group’s new facility adding ~120 jobs, continues to strengthen renter demand, further enhanced by proximity to Nashville (40 miles) and Clarksville (~61 miles).
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Portland Multifamily Portfolio.
Property Facts
| Price | $4,135,871 CAD | Number of Properties | 2 |
| Price / SF | $415.25 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.77% | Total Building Size | 9,960 SF |
| Sale Type | Investment | Total Land Area | 2.06 AC |
| Status | Active |
| Price | $4,135,871 CAD |
| Price / SF | $415.25 CAD / SF |
| Cap Rate | 6.77% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 9,960 SF |
| Total Land Area | 2.06 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 123 Old Westmoreland Rd, Portland, TN 37148 | Multifamily | 7,440 SF | 1986 | - |
| 102 Fireside Dr, Portland, TN 37148 | Multifamily | 2,520 SF | 1994 | - |
1 of 35
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Fireside Flats & Westmoreland Townhomes
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.